What is required for approval of miscellaneous revenues in the current fund budget?

Prepare for the New Jersey CMFO Statutes Exam. Access multiple choice questions and flashcards with hints and detailed explanations. Excel in your exam!

For miscellaneous revenues to be approved in the current fund budget, it is essential that they receive the backing of both the sinking fund commission and the director. This requirement ensures that the miscellaneous revenues are evaluated properly in terms of their fiscal impact and appropriateness within the overall budget framework. The sinking fund commission is tasked with overseeing the management of debt obligations and their related revenues, thus their approval is critical. Similarly, the director holds a significant position in municipal finance and must endorse the inclusion of these revenues to safeguard the financial integrity of the municipality.

This structured approval process is vital for maintaining accountability and transparency in fiscal matters, laying the groundwork for ensuring that all budgeted items align with legal and financial regulations. Other options like passing a bond ordinance, public notification, or citizen support do not specifically pertain to the required process for approving miscellaneous revenues, making the involvement of both the sinking fund commission and the director the correct pathway to compliance in this scenario.

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